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A federal court has ordered the U.S. SEC to review its rejection of Grayscale Investments’ attempt to convert the Grayscale Bitcoin Trust (GBTC) into an ETF. The court stated that the SEC failed to adequately explain why it approved the listing of two bitcoin futures ETPs but not Grayscale’s proposed bitcoin ETP. This decision comes after several institutions, including BlackRock, WisdomTree, and Coinbase Global, filed applications for spot bitcoin ETFs.

Portfolio Pulse from Anusuya Lahiri

August 29, 2023 | 3:13 pm

BAC

A significant bearish stance has been taken on Bank of America (BAC) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split, with 40% bullish and 60% bearish. The whales have been targeting a price range from $29.0 to $31.0 for BAC over the last 3 months. Analysts from Oppenheimer and Wells Fargo maintain their Outperform and Overweight ratings on BAC, respectively, with price targets of $49 and $40.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:01 pm

MATICUSD

Polygon's (CRYPTO: MATIC) price has increased 7.75% over the past 24 hours to $0.61, and 13.0% over the past week. The coin's all-time high is $2.92. Trading volume has climbed 14.0% over the past week, moving in tandem with the overall circulating supply of the coin, which has increased 0.15%. The current market cap ranking for MATIC is #13 at $5.65 billion.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:01 pm

SOLUSD

In the past 24 hours, Solana's (CRYPTO: SOL) price has risen by 5.83% to $21.75, despite a negative trend over the past week where it experienced a 2.0% loss. The trading volume for the coin has fallen 36.0% over the past week, while the overall circulating supply has increased by 0.17% to 408.15 million. The current market cap ranking for SOL is #10 at $8.85 billion.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:01 pm

VMW

VMware (NYSE:VMW) has outperformed the market over the past 15 years, producing an average annual return of 10.19%. If an investor had bought $1000 of VMW stock 15 years ago, it would be worth $4,332.55 today. The company currently has a market capitalization of $71.78 billion.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:00 pm

BTCUSD

Bitcoin's price has risen 5.21% to $27,485.00 over the past 24 hours, continuing its positive trend over the past week with a 5.0% gain. The trading volume for the coin has tumbled 38.0% over the past week while the circulating supply has risen 1.03% to 19.47 million, which makes up an estimated 92.72% of its max supply of 21.00 million. The current market cap ranking for BTC is #1 at $535.38 billion.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 3:00 pm

CAT

Unusual options activity has been observed for Caterpillar (NYSE:CAT), with a large position indicating a bullish stance. The sentiment among these big-money traders is split between 60% bullish and 39% bearish. The targeted price range for Caterpillar over the last 3 months is from $270.0 to $310.0. Major financial institutions including Wells Fargo, JP Morgan, Goldman Sachs, B of A Securities, and Credit Suisse have maintained their positive ratings on Caterpillar, with price targets ranging from $285 to $334.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 2:46 pm

GBTC

The US federal appeals court has ruled that the SEC was wrong to reject Grayscale's spot bitcoin ETF application, leading to a rise in the trading of Grayscale Bitcoin Trust.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 2:45 pm

SPY

US job openings fell to a 28-month low in July, indicating a cooling labor market due to the Federal Reserve's monetary policy tightening. Consumer confidence also dropped to its lowest level in 16 months. The dollar and Treasury yields fell, while stocks, including the SPDR S&P 500 ETF Trust (NYSE:SPY), rallied.

Portfolio Pulse from Piero Cingari

August 29, 2023 | 2:44 pm

ADAUSD

BTCUSD

ETHUSD

Cryptocurrencies are trading higher after a US federal appeals court ruled that the SEC was wrong to reject Grayscale's spot bitcoin ETF application.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 2:36 pm